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of the office of energy policy at the u.s. treasury and he joins me now on the phone. phillip, when i first heard this i thought it sounded really strange and i thought about it is is brilliant. one of the reasons you say because when policy makers talk about releasing oil from the spr, it makes people nervous, it makes traders nervous and actually gives the price support, right? >> exactly right. earlier in the hour you had phil flynn talking about gasoline and he was saying inventories are low. one of the major reasons that inventories are low is that the inventories are no longer held by exxon and so on. they're held like companies like global partne in new england and they cut their purchases for inventories whenever they fear prices going. everybody understands that you don't want to go buy now if you think prices are going to be lower. melissa: yep. >> so there just has been a litany over the, since march of, maybe we'll release the strategic reserves and maybe we won't and so invariably what everybody does is cut back. melissa: right. absolutely. then another reason as way was thinki
and of the secretary of energy. and he will leave office in december remember as the president who built the most universities, 96. 16,000 kilometers of highways, the bridge that connects mexico's coast providing faster access and therefore more efficient trade. and the passage of the first employment act which provides incentives for the companies to hire people just entering the workforce. he also faced the daunting challenge of the violent spawn by the drug cartels that left 50,000 people dead. the poll taken this past august showed his approval rating of about 64%. we are so honored to have the president of mexico here with us. and mr. president we welcome you to the podium and look forward to your remarks to the [applause] >> good morning. thank you for your words. it is an honor to be here today. at the council on foreign relations for more than 90 years this institution has to understand the challenges on the foreign policy changes facing the united states six years atoka in my first i told the mexican people that it was possible to transform mexico. i say that we could turn it into a post
, so as nuclear energy is concerned, iran has a right to develop nuclear energy but for military use, no way, because it is too dangerous. not because it is iran but because-- if it goes that way, it means the region can be a terrible menace. therefore, no way. the question is how do you convince iran to evolve? we have-- when i saw "we" it's the big 5-- france, u.s., british, china, and russia. we're united on this issue. >> rose: the 5 plus 1 germany. >> yes, and we were sussi with iran and trying to convince them to change and we are applying sanctions. the fact is, up to now, iran has not changed. >> rose: it's not changed its behavior because of the sanctions. we have a report of the international agency they go that enfortunately, they're disrupting their program. and my own belief that what they are doing cannot be explained if ty have decided not to go nuclear. there were, we have to say, and we are saying to them, do negotiate because it's not possibly for you to have-- to go to a nuclear weapon. >> rose: in other words you said to them we need to find a negotiated way out o
of mexico, he has served as a deputy in mexico's federal chamber of deputies and as secretary of energy. he will leave office in december, remembered as the president who built the most universities 96. the 16,000 kilometers of highways, the bridge that connects mexico's two coasts, providing faster access and therefore more efficient trade and the passage of the first employment act, which provides incentives for companies to hire people just entering the workforce. he also faced a daunting challenge of the violence by the drug cartels that left 50,000 people dead. a poll taken just this past august showed his approval rating about 64%. we are so honored to have the president of mexico here with us. and mr. president, we welcome you to this podium and look forward to your remarks. [applause] >> good morning. thank you for your words. it's not hard to be here today at the council of foreign relations. for more than 90 years, this institution has been at the forefront of analysis to understand the challenges and foreign policy choices based in the united states and the world. six years ago,
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in energy, food. >> absolutely right. and what's critical is that everybody now believes there will be some extra inflationary pressure in the system and that's extremely good news. luckily i think the risks are off the table and one can be supportive of equities in terms of higher valuations until inflation gets in excess of 4 percentage points, at which point people begin to worry about what will happen to the quality of earnings. >> the key thing here is the corporate take of gdp has never been at such a high level versus -- and wage earners take gdp as a pretty low level on a historical basis. i suppose the question is that going to remain or is there anything that will tip the employee share back? at which point things will change. >> you're right, it's pivotal to the levels and whether they can be maintained. there are two factors that allow me to feel more confident. first is the government policies are pro recovery coming from corporate as opposed to try and get workers to have higher incomes workers themselves don't have price impact power in the marketplace. global trend is still
be coming to the fore. . there's an underlying macro cramer, but a lot of changes going on. energies and energy efficiency. many aspects to it. >> other stories today, a bid to prevent another financial crisis, the review led by bank of fin len governor is expected to call for a separation of retail and investment operations. the report will also call for bonuses to be paid in debt. we'll hear from the central bank later today. meanwhile steve hester has called for banks to readjust back to a more customer focused approach. speaking at the london school of economic, he said lenders need to restore good customer service to regain trust of the public and rbs is the poster child for what went wrong in banking. and eric snyderman is suing jpmorgan. the suit partly the result of a federal mortgage task force formed in january. investors lost around $22 billion and more than 100 securities. jpmorgan says the suit involves actions taken at the behest of the u.s. government. jpmorgan stock closing up 1.2%. and "new york times" says u.s. senate will try to use the lame duck session to reach a
so we can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to america. bp supports nearly two-hundred-fifty thousand jobs in communities across the country. we hired three thousand people just last year. bp invests more in america than in any other country. in fact, over the last five years, no other energy company has invested more in the us than bp. we're working to fuel america for generations to come. today, our commitment to the gulf, and to america, has never been stronger. >>> our guest host craig barrett, former chairman and ceo of intel. it's really good to have you. this is like twice in the last three weeks you've been on, isn't it? >> it's a pleasure to be with you guys. >> we'll talk tech, first of all, do you feel total, do you feel like a generation wire? are you totally insync with everything in technology now or do you harbor any resentment to all this new stuff, craig, having been at intel in the glory days? >> hey the beauty of tech is everything changes every year or every six months and t
picture is the department of energy. their inventory, if you look at at the tall stocks for the five-year seasonal average, is sitting right around 370 million barrels. that's their inventory. the five-year seasonal average is down about 325, so we're 10% over. remember last week we had a build of 8.5 million barrels. this week we're expecting a build of two million. if you see in about an hour when oil prices and the d.o.e. releases their stocks, you'll probably see oil take that next leg lower. >> let's switch gears and talk about gold as well as silver, for that matter. silver has been handily outpacing gold this year, so i'm wondering if traders are seeing the silver trade having more upside. granted, it's a less liquid market. but maybe going into the final quarter of the year, that's the bet that's in place. >> the silver trade has rallied about 20% in the last two months. it is technically an industrial metal. it has gotten a boost because of the qe hype. traders are thinking that that's the cheap metal to get into, but with prices up at 33.5, i think that they're a little bit
well in the green with chinese energy majors and banks leading the gains. elsewhere the nikkei also finished higher helped by utilities and financials. but sharp shares slipped nearly 4% despite reports on a financial life line from its major lender. some units tanked following the parent company bankruptcy filing. bank and miners helped the australian markets end a three day losing streak closing higher by half a%. and the sensex trading along the flat line at the moment. back to you. >> thanks very much. pippa, it's almost a battle of markets this morning between spain and china, between kind of the macro europe uncertainties we were just talking about in the sense that policymakers whether do more. but there's the sense that it's just not enough. >> we are seeing in emerging markets, workers are saying i need to get paid a lot more. and if you don't pay me more, i'm going to protest one way or another. so foxconn had to basically shut down operations because they're all protesting, rioting. now, they're getting 25% wage hikes. but it's not enough given the pace at which food and
of a poorly functioning financial sector. worryingly, the energy to implement the reforms that have been agreed as well as other reforms that we need are fading in little bit. and i am often asked and i am sure the some of the central bankers and providers are asked the same question. are we now better off than five years ago? probably so. are we out of the loop? do we have everything we need in terms of assistance, in terms of detecting the systems? most people, supervisors in particular, and certainly the imf would say not yet despite major progress. i know all of these seem a little bit bleak. but let me assure you that we have not overlooked the reaction to recent policy announcements. and those are strong and good positive reactions. but we have seen positive market response of before that turned out to be short-lived. this time, what we need is not bounce.balance we need a sustained rebound. to be different, we need certainty more than uncertainty and we need decision makers to turn into action takers. it will require courage and the ability to rise above the short- term agenda of
before we get going on that. how much of an impediment as well is oil and energy prices going to be? it's still high bearing in mind the weakness of the global economy. >> it's a straggling problem with gasoline prices over here. two months in the average price of gasoline per gallon was what 2.44 and -- sorry, 3.44 now up to 3.84. and around the northeast here, we're paying well over $4 a gallon. so it is an impediment. it's only 11% of overall retail consumption. so i think we've largely gone over that sticker shock. we've become accustomed and i think consumers compensate for that in the wage packet. >> all right. andrew, stick around. more to come from you. we'll dig in to the housing market a little bit later. also still to come, we'll bring the latest on the education nation summit. >> and we'll preview president obama's speech at the u.n. general assembly. >>> welcome back. here are the headlines. caterpillar cuts it forecasts and merkel says sharing debt won't solve it crisis. draghi will be delivering the key note speech. >> and president obama set to address the u.n. general a
Search Results 0 to 21 of about 22 (some duplicates have been removed)

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